In a significant move, the Central Government has announced a revamp of rules governing the purchase and sale of SIM cards.
Expected to take effect from January 1, 2024, these alterations, initially proposed in August, have encountered delays in implementation.
Despite previous deadlines, the updated SIM card rules are now scheduled for enforcement starting December 1, 2024.
Restrictions on SIM Card Purchases Per ID to Curb Fraudulent Activities
One of the key amendments pertains to limiting the number of SIM cards that can be purchased under a single identification.
The government aims to clamp down on the acquisition of excessive SIMs to mitigate the risk of online fraud.
Under the revised guidelines, SIM card vendors are mandated to undergo a KYC (Know Your Customer) process before registration, enhancing the overall security of the system.
Stringent Penalties for Non-Compliance with New Rules
In an effort to deter bulk purchases of SIM cards, strict penalties will be imposed on those who fail to adhere to the new regulations.
Telecom companies facilitating the sale of unregistered SIMs may face fines of up to Rs 10 lakh.
All SIM card dealers are now required to register, marking a crucial step by the government to combat the proliferation of fake SIM cards and financial fraud.
As of now, the country boasts approximately 10 lakh SIM card sellers, all of whom will be impacted by these stringent measures.
